ChainCatcher reports that, according to Glassnode data, the Bitcoin profitability stress ratio has currently reached 0.23, the highest level since September last year. This indicator is used to measure the relative size of supply in a loss state, reflecting market pressure.
Glassnode points out that historically, when this index exceeds 0.2 it usually signifies periods of intensified market pressure. If this value continues to rise, it could potentially indicate further increases in market pressure and possibly reinforce a broader shift in market sentiment.